Lufthansa Group, the German airline mastodon is ready to operate on the B2B blockchain marketplace. The platform belongs to Winding Tree.
Lufthansa Group, the German airline mastodon is ready to operate on the B2B blockchain marketplace. The platform belongs to Winding Tree, a Swiss startup developer who has paved the way for the Ethereum blockchain in the air travel industry.
The B2B marketplace comes with specific benefits for airline companies that have attracted Lufthansa’s attention:
- An easier booking, without the need for third-party entities like Expedia or Booking.com, that would only slow down the process
- Lower transaction fees, since the intermediary commissions will be cut down completely
- More profitable bookings, as all additional costs of a classic booking process will be removed, which will result in:
- Lower travel expenses for the client
According to a Lufthansa representative, this partnership is meant to benefit both the company and its clients, as the Winding Tree’s blockchain platform is designed to accommodate the client’s personalized needs. As a result, a wide variety of new blockchain apps are to be developed in the near future, allowing travelers to express their preferences without any intermediary entities restricting them.
The same representative stated the likelihood for other businesses to follow the same path shortly, including other airline companies and travel services, hotels, resorts and even restaurant chains, due to the cost cuts and the increased efficiency.
Winding Tree’s Lif is being promoted
Winding Tree’s crypto token called Lif is to be put out for sale, part of a new form of fundraising that has met its fair share of both supporters and detractors alike. According to Winding Tree representatives, Lif is meant to facilitate B2B transactions and bookings taking place in the digital market, with several other benefits linked to blockchain functioning.
Lufthansa’s interest in the B2B blockchain supports its participation in the upcoming token sale, that is set to take place on November 1st. The German airline giant has not disclosed the value of its investment.
Blockchain technology increasingly more popular
Lufthansa’s surprising immersion in the blockchain market is not a singular case. Another German colossus, TUI, one of the biggest tourism companies on the globe, aims at releasing BedSwap – a contract-enabled blockchain technology that is set to function within the same parameters as that of Winding Tree.
Eliminating the intermediaries seems to be one of the main goals for both giants, as that will reflect onto the financial aspect of the business, alongside expanding their reach and shortening the bridge between the provider and the consumer.
With “efficiency” and “innovation” being the words of the day, Winding Tree has managed to produce a partnership with one of the biggest airline companies in the world, which will prove fruitful for both parties involved.